• 60 Seconds with Swett: The Problem with CMS Interpretive Guidelines

    Just a day after we highlighted the potential downsides of overregulation of assisted living from the federal level, a case of regulatory overreach involving a nursing home just headed to the U.S. Court of Appeals for the Fourth District in hopes of overturning a $1.8 million civil monetary penalty. Without getting into the minutiae too much, the... Read More »
  • Kayne Anderson Fund Tops Target

    The familiar refrain continues, with more capital continuing to flow into the seniors housing industry, property prices should keep rising. Kayne Anderson Real Estate, the real estate private equity arm of Kayne Anderson Capital Advisors, L.P., has closed the largest opportunistic equity fund in its history, at more than 70% above its initial... Read More »
  • Well-Performing Full-Continuum Community Sells

    Blueprint announced its role in the sale of Morningstar at Golden Ridge, a seniors housing community in Peoria, Arizona (Phoenix MSA). Built in 2019, the community has 38 independent living, 65 assisted living and 35 memory care units. It is nearly fully occupied. The community is one of the newest and most well-appointed assets within a... Read More »
  • Kaplan Development Divests to Cedarwood Group

    Cedarwood Group closed its acquisition of Saranac Village at Will Rogers, a 75-unit independent living community in Saranac Lake, New York. The seller was Kaplan Development Group, which took over Will Rogers after the first year of it being open as a senior living community. The community was originally built in 1928 as a Tudor-style... Read More »
  • Omega Welcomes New CEO and CFO

    Omega Healthcare Investors, Inc.’s President, Matthew Gourmand will become the REIT’s Chief Executive Officer in conjunction with the planned retirement of Taylor Pickett, effective October 1, 2026. Pickett will also step down from the Board of Directors upon his retirement, and the Board of Directors intends to appoint Gourmand to the Board,... Read More »
Invesque Expands with Virginia Acquisition

Invesque Expands with Virginia Acquisition

Toronto, Canada-based Invesque (TSX: IVQ) announced it has entered into an agreement to purchase 20 assisted living and memory care communities from Commonwealth Senior Living for $340.4 million, or about $236,400 per unit. All but one of the communities are in Virginia, with one in Pennsylvania. Of the total units, 863 are assisted living, 486 are memory care, and 91 are independent living, for a total of 1,440 (1,716 licensed beds). In addition, Invesque has an exclusive right of first offer for three additional communities that are currently managed by Commonwealth and will continue to be after the closing, which is expected in the third quarter. The deal increases Invesque’s AL/MC... Read More »
Will New Records Be Set in 2018?

Will New Records Be Set in 2018?

On Thursday, February 15, our Editor Steve Monroe moderated a 90-minute webinar titled “Will New Records Be Set? The Numbers, the Deals, the Stats on all Seniors Housing and Care M&A,” with a panel of experts to discuss the 2017 seniors housing and care M&A market, with pricing statistics from our upcoming Senior Care Acquisition Report, to be published next month. There were a few records set in 2017 (for details on those records, check out either the webinar or the Report), but with labor, occupancy, overdevelopment and interest rate headwinds facing the seniors housing and care industry, would that robust M&A market continue into 2018? That’s what our panel of experts,... Read More »

Capital Healthcare Investments Doubles In Size

Capital Healthcare Investments (CHI), a wholly-owned subsidiary of MTGE Investment Corp., a publicly traded hybrid REIT, has purchased a portfolio of nine skilled nursing facilities in Virginia with about 1,050 beds. The transaction almost doubles the size of CHI’s portfolio, which now includes 14 skilled nursing facilities and six mostly assisted living/memory care communities. The purchase price was $130 million, or close to $124,000 per bed. Why the high price? The average age is just 15 years and the occupancy is in the low 90s. Five of the nine properties were built in the past 10 years. The facilities will be leased back to the seller under a 15-year lease with two five-year renewals... Read More »
The votes are in!

The votes are in!

We held our annual Senior Care M&A Outlook webinar last Thursday, which featured a discussion between our editor Steve Monroe, John Cobb, CIO of Ventas, Inc., Scott Kremeier, Senior Vice President at Houlihan Lokey, and Ryan Maconachy, Senior Managing Director at HFF. In it, the panelists discussed how the seniors housing and care M&A market fared in 2015 (based on statistics in our soon-to-be released Senior Care Acquisition Report, 21st Edition) as well as their thoughts on what would happen in 2016. We asked the audience their thoughts on the 2016 M&A market too. First, when asked “Will senior care M&A slow this year?” a majority of attendees (58%) thought that it would,... Read More »